Press release
Botanical Supplements Market in Australia and New Zealand Extends at a Healthy CAGR of 8.5% during forecast 2023 to 2033
Botanical supplements are plant-based supplements that are used to promote health and well-being, and they are becoming increasingly popular due to their perceived health benefits and minimal side effects. The market is driven by factors such as the increasing prevalence of chronic diseases, growing health consciousness among consumers, and rising demand for natural and organic health products.
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The market is segmented into type, application, and distribution channel. Based on type, the market is further segmented into ginkgo biloba, echinacea, garlic, milk thistle, and others. The echinacea segment holds the largest market share, owing to the increasing use of echinacea supplements for immune system support and reducing the severity and duration of cold and flu symptoms.
Based on application, the market is segmented into pharmaceuticals, food and beverages, and dietary supplements. The dietary supplements segment holds the largest market share, owing to the increasing demand for natural and organic health products and rising consumer awareness about the health benefits of botanical supplements.
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Companies Covered in This Report -
Blackmores Limited
Vitaco Holdings Limited
Integria Healthcare
Bioglan
Deep Blue Health (NZ) Co. Limited
Phytomed
NZ Herbals
Sanderson
Others
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Market Segmentation : Australia New Zealand Herbal Supplements Market
Botanical Supplements Market in Australia and New Zealand By Form : Tablets, Capsules, Powder, Liquid
Botanical Supplements Market in Australia and New Zealand By Product Type : Beauty Supplement, Bone and Joint Supplement, Body Building Supplement, Digestive & Heart Supplement, Supplement for Immune System, Brain Supplement, Supplement for Weight Loss, Others (Vision Supplement, Menopause Supplement)
Based on distribution channel, the market is segmented into online and offline channels. The offline segment holds the largest market share, owing to the wide availability of botanical supplements in health food stores, supermarkets, and pharmacies. In conclusion, the botanical supplements market in Australia and New Zealand is expected to witness significant growth during the forecast period, owing to the increasing demand for natural and organic health products, growing health consciousness among consumers, and rising prevalence of chronic diseases. The market is highly competitive, with key players focusing on product innovation and partnerships to expand their market presence.
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